Chung Hung Steel Corporation (CHSC), a Taiwan-based carbon steel producer under China Steel Corporation (CSC), maintained its domestic price of hot-rolled steel, cold-rolled steel, and galvanized steel for July, and the export price for delivery in August will be adjusted based on the product and region. The actual quotation will be based on the local market conditions.

CHSC said that recent economic moves and policy shifts indicate a path toward recovery in global markets. The European Central Bank (ECB) decided to cut its three key rates by 25 basis points for the first time since 2019. Meanwhile, the US consumer price index (CPI) showed a year-on-year increase of 3.3% in May, surpassing market expectations. This has heightened speculation about potential interest rate cuts by the Federal Reserve (FED) later in the year.

Meanwhile, China's National Development and Reform Commission released an action plan of energy conservation and carbon emissions reduction for the steel industry to emphasize stricter regulation of crude steel production and upgrades in transportation infrastructure. These measures are expected to balance steel supply and demand dynamics and accelerate commercial housing destocking.

Cooling global inflation and increased investment and consumer demand stimulated by interest rate cuts in Europe and Canada. Looking ahead, the steel industry anticipates a rebound in demand driven by global monetary easing and economic stimulus measures.